April numbers:
- Personal:
- Gross monthly W2 pay: $5,375 (no change)
- Net monthly W2 pay: $3,373 (no change)
- Total credit card debt: $32,741 (+$2,938)
- Total other non-mortgage debt: $12,145 (-$937)
- Total other non-mortgage debt: $10,954 (+$1,191)
- Total mortgage debt: $144,149 (-$862)
- Cash/cash equivalents: $5,000 (-$7,492)
- Total retirement savings: $248,304 (+$15,078)
- Non-Equity Net worth: $65,462 (+$6,702)
- Total Net Worth: $411,486
Another late update, so I’m reframing ‘late’. Updates will now come at the end of the month instead of being targeted at the middle of the month. That will remain consistent with the past few updates and should hopefully be easier to achieve.
Debt categories are up and cash positions are down this month owing to some unexpected expenses. In the business there were additional costs of $3,500 to replace a furnace and an unexpected additional cost of $3,500 on a porch replacement owing to increased lumber costs, and added structure costs uncovered when the decking came off. Of those costs $4,000 are still outstanding, so those will ‘land’ in May. May is going to be equally bad for my numbers (or perhaps worse). On the personal expense side I had a ~$1,000 root canal charge though I expect some of that expense will be reimbursed in the coming months, though who knows when.
In addition to the above I also purchased a new rental house. Yay! But timing couldn’t have been worse (or better, see additional post on the purchase) due to the other expenses and the required 20% down payment cost. In essence I spent (all told) just a little under $30,000 this month (with $4K of that still to pay). Roughly 20% of that was unexpected. In May I’m looking at other expenses for work still pending in turnover costs for the new rental property, one property the tenant moved out of, and final work still needed on the property with the porch. I wouldn’t be surprised if April and May cost ~$45K when all the bills are in. Since that amount is my annual take-home pay times are tight!
Coming up in May I’ll try to do a deep dive into the new property and talk about some of the repairs. I suspect May will be challenging and things will start to even out in June in terms of new expenses – then will just come moving debt around and buckling down and paying things off (fingers crossed). Stay tuned!
